“I am lovin it”-brand building
When I did the case about the Olympic sponsorship, I notice that sponsoring an event now developed to be an effective way for the brand building. So what is brand building all about? According to Wikipedia, A good brand building exercise is through the concept of “brand awareness”, brand love”, and “ambient brand”.
First of all, generating “brand awareness “among public is kicking the door of a new market, on this stage, media coverage topped the list. Only if people be aware of your brand, there is a chance for them to like it. That mentions the second step of “brand love”. Generally speaking, “brand love” is a process to change people’s preference. Building “Brand love” is a really powerful strategy to expand one’s market share. I know lots of people who only drink Pepsi instead of coke, which shows that their brand preference affect their choice a lot. Building brand love among the target audience is a way to build the consumer’s loyalty. Thus crates a long term effect for the brand’s development. In terms of the “ambient brand”, basically, it is allowed the brand to associate with some other well-known brand that has a positive and effective image among the public like Olympic. The association will create the brand goodwill. That is exactly why company want to get a sponsorship for major events. Brand building is a process of adaption, adapt your target audience to the value, belief, product and company image your company present, with the expectation that eventually your target audience will say “ oh, yes, I’m lovin it.”